Harking back to our original mission—to create a practical guide on how to change the venture capital industry—we needed to cast our net further afield and reach out to people who we originally thought may not have the power to fundamentally change the tech industry, because they were working either outside or alongside the traditional power structures. In hindsight, it appears that the tech industry as it is may well serve the existing power structures a little too well for it to be radically changed from within. Change by insiders is limited in terms of the scope of what they can achieve without being cut down and out. A clear example is that Black-led funds are emerging across the globe, yet there are less than a handful that have closed more than $30M for their first funds, with much of the investments in charitable or impact funding buckets. By comparison, the average first-time VC fund size in 2021 was $85M in North America and $110M in Europe; in their recent report, BLCK VC concluded that Black GPs on average raise funds that are 46% smaller than this average. We are far away from a level playing field. What we heard were often excuses: we want to do things differently, but change will and must take time to actualize.